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Increasing Seaborne Trade Across The Globe To Propel Port Equipment Market

The factors that are expected to fuel the growth of the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Various countries have been focusing on developing new ports owing to the increase in vessel count and trade volume. According to the International Chamber of Shipping, 90% of the world’s trade is carried out through seaways as they are ideal for heavy and bulk goods, have large carrying capabilities, and offer competitive freight costs. The global port equipment market size is expected to grow from USD 29.2 billion in 2018 to USD 36.6 million by 2023, at a CAGR of 3.30% during the forecast period. The major driving factors for the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Based on equipment type, the straddle carriers segment is estimated to lead the port equipm
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Flavors And Fragrances Market is Expected to Reach USD 24.13 Billion By 2022

The flavors and fragrances market is expected to grow from an estimated USD 21.15 billion in 2017 to USD 24.13 billion by 2022, at a CAGR of 2.67% between 2017 and 2022. The growing demand for flavors & fragrances from end-use industries such as food & beverage and consumer goods is expected to drive the flavors & fragrances market. The flavors & fragrances market is also expected to grow due to rising demand for consumer products and changing consumer preferences for convenience food products.

The market has been segmented on the basis of ingredients, end use, and region. Based on ingredients, the natural ingredients segment is projected to grow at the highest CAGR between 2017 and 2022. This growth of the natural ingredients segment is attributed to the strict regulations related to the use of synthetic flavors & fragrances and growing awareness among populations concerning health and wellness.


Expansions, acquisitions, new product launches, joint ventures, investments, and partnerships are the strategies adopted by key players to strengthen their positions in the flavors & fragrances market. The maximum number of strategic developments took place in the Asia Pacific and North America between January 2015 and December 2017.
Key players operating in the flavors & fragrances market include Givaudan (Switzerland), International Flavors & Fragrances Inc.(IFF) (US), Firmenich (Switzerland), MANE (France), Symrise (Germany), Sensient (US),Takasago (Japan), Frutarom (Israel), Robertet (France), and T.HASEGAWA (Japan).
Based on end use, the flavors market is segmented into beverage, savory & snacks, bakery, dairy products, and confectionery, among others. Dairy products is estimated to be the fastest-growing end-use segment of the flavors market during the forecast period.


Growing awareness among the younger population related to functional ingredients contained in dairy products is driving the demand for dairy products, which in turn is driving the dairy flavors market. Based on end use, the fragrances market is segmented into consumer products and fine fragrances. Fine fragrances are estimated to be the fastest-growing end-use segment of the fragrances market during the forecast period, due to increasing consumer spending on premium fragrances.

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